Courier Capital LLC Cuts Stock Holdings in Amgen Inc. $AMGN

Courier Capital LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 15.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,293 shares of the medical research company’s stock after selling 2,512 shares during the quarter. Courier Capital LLC’s holdings in Amgen were worth $3,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Sivia Capital Partners LLC increased its position in shares of Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock valued at $331,000 after buying an additional 114 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Amgen by 8.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 13,877 shares of the medical research company’s stock worth $3,875,000 after buying an additional 1,076 shares during the period. Abacus FCF Advisors LLC lifted its position in shares of Amgen by 226.3% during the 2nd quarter. Abacus FCF Advisors LLC now owns 62,101 shares of the medical research company’s stock valued at $17,339,000 after buying an additional 43,068 shares in the last quarter. Finally, BTC Capital Management Inc. grew its stake in Amgen by 20.5% in the 2nd quarter. BTC Capital Management Inc. now owns 8,039 shares of the medical research company’s stock valued at $2,214,000 after acquiring an additional 1,367 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 0.1%

AMGN opened at $330.41 on Monday. The firm has a market capitalization of $177.92 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 2.94 and a beta of 0.45. The company’s 50 day simple moving average is $331.56 and its two-hundred day simple moving average is $306.19. Amgen Inc. has a 1-year low of $261.43 and a 1-year high of $346.38. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter last year, the firm earned $5.58 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is presently 73.57%.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. Erste Group Bank upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. DZ Bank upped their price target on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Guggenheim raised their price target on shares of Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Piper Sandler boosted their price objective on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, The Goldman Sachs Group raised their target price on Amgen from $400.00 to $403.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $339.45.

Insider Activity at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 10,908 shares of company stock valued at $3,674,966. 0.76% of the stock is owned by company insiders.

Amgen Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.